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WALL STREET CRAPS STOCK MARKET STRATEGY APRIL 23, 2019

April 24th, 2019 Comments off

craps front coverSTOCK MARKET STRATEGY FOR APRIL 23, 2019: The stock market hits oversold readings on Monday giving us a brief short-term buy signal. That signal proved to be a timely entry points for today’s strong rally. With the bottom being only a day ago, it is certainly possible for the market to continue its rally for several more days. This has certainly been a classic “climb the wall of worry” rally with no apparent reason to stop its climb especially with its most recent pause to refresh.

Key underlying short-term timing indicators show the following:

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THE BOTTOM LINE: The stock market registered a short term oversold bottom on Monday. While the market is hitting resistance near its old highs, the timing of yesterday’s bottom gives it lots of time to work itself higher.

WALL STREET CRAPS STOCK MARKET STRATEGY APRIL 6, 2019

April 7th, 2019 Comments off

craps front coverSTOCK MARKET STRATEGY FOR APRIL 6, 2019: The stock market is now at the top of its trading range with all 5 internal indicators in “overbought” territory. This usually suggests that the market will fail on its first attempt to break above this current price range. But with the persistent strength of this market, it would be risky to bet on an immediate downturn. Until there are more obvious non-confirmations and/or a strong downside reversal, the Bulls will still have the upper-hand on this market.

Key underlying short-term timing indicators show the following:

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THE BOTTOM LINE: The market appears to be setting itself up for an eventual upside breakout on the news of a trade deal with China. But could this event become the trigger for a downside reversal on high volume? That’s the question that I’d be anticipating as I view this market in the current news environment remembering the words and wisdom of the late Joseph E. Granville, “the obvious is obviously wrong.”